French Connection first-half net loss widens, sales up

SarahTurner

LONDON (MarketWatch) -- French Connection
FCCN, -3.70%
said that its first-half net loss widened to 3.0 million pounds ($5.3 million), from 1.9 million pounds a year ago, while revenue rose to 112.4 million pounds, from 109.4 million pounds last year. The company noted that virtually flat sales and increasing pressure on margins and costs contributed to a disappointing result. "It would appear that the economic environment is unlikely to improve in the short term," the firm added. U.K. retail sales in the early part of the new season have continued to outperform the market but growth in comparable sales in the second half of the year is expected to be difficult to achieve. "Any gains we make will have to be achieved through significant outperformance by our ranges," the firm said.

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